The US Treasury Department says it is targeting Iran’s oil transportation infrastructure by imposing sanctions on more than two dozen individuals, companies, and vessels, Reuters reports.
The sanctions target a network of Iranian oil shipping magnate Mohammad Hossein Shamkhani, the Treasury Department has said in a statement.
Hossein Shamkhani is the son of Ali Shamkhani, a key figure in Iran’s security and nuclear policymaking who was killed in US-Israeli strikes on Tehran on February 28.
“[The] Treasury is moving aggressively with Economic Fury by targeting regime elites like the Shamkhani family that attempt to profit at the expense of the Iranian people,” Treasury Secretary Scott Bessent has said in the statement.
The Treasury Department is also sanctioning Iranian national Seyed Naiemaei Badroddin Moosavi, who it alleges to be a financier to Hezbollah, and three companies linked to a money laundering scheme involving the sale of Iranian oil in exchange for Venezuelan gold.
